There has been an increase in the use of micro-perforated films in food and packaging. An increasing need for reduction in food spoilage and the adoption of new packaging formats by emerging economies are the key factors contributing to the high CAGR of Micro-Perforated films during the forecast period.
New York, NY -- (SBWIRE) -- 04/30/2021 -- The global Micro-Perforated Film Market was valued at USD 1.27 Billion in 2018 and is expected to reach USD 1.75 Billion by the year 2026, at a CAGR of 4.1%. In packaging, along with protective functionality, the packaging material is expected to let the product breathe, which is not facilitated by most of the packaging material. However, micro-perforated films provide a solution to this issue. In Micro-perforated technology, the film is pierced with grids of pin-sized holes, thus adding a longer shelf-life and other functionalities to a wide range of products from commercial to daily household products. Micro-perforated films reduce the spoilage of food products and enable them to stay fresh for a more extended period. Thus the growing need to increase the life of products and usage of micro-perforated films across a wide range of applications is expected to drive the growth of the Micro-perforated films market. The growing demand for convenience, fresh, and healthy food products is expected to generate significant opportunities for emerging market players. For perishable food, there lies the risk of contamination that is more susceptible to grow fungus and bacteria on the presence of moisture in the food package.
With up to 40% of all fresh food produced is discarded, food wastage in the western world is high. It is a significant cost factor for the companies in the value chain. The consumer here who use to spend their money are now effectively reducing their purchasing power, and thereby, it raises concern for the government on how to feed the world population. To overcome this situation, a new system of micro-perforation packaging has been developed to prevent the food wastage, which has impressive results, has longer shelf-life, and maintains optimal product quality. The industry has witnessed soaring demand for micro-perforated packaging material for the packaging of fruits and vegetables in the form of film and laminates.
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Further key findings from the report suggest
Micro-Perforated films market is growing at a CAGR of 2% in the Asia Pacific, followed by North America and Europe, with 3.4 % and 3.6% CAGR, respectively. The high CAGR of Asia Pacific is majorly driven by China, which was the primary producer and consumer of micro-perforated films in 2017.
As of 2018, Polyethylene is the dominating Micro-Perforated film, which holds 36 % of the global market. Asia Pacific regional market is the chief revenue-generating source for this product segment.
Micro-perforated film materials like polymers did not allow the selective exchange of gas, while modified perforated films produced from high barrier packaging can be edited considering the respiratory activity of the produce.
Manufacturers of micro-perforated films are adopting new strategies and technologies to increase their market share. For example, Helion, a key player in the Micro-perforated films market, developed a micro-perforated technology to produce a wide range of pin-hole diameters and grid patterns. Additionally, it is also the first company in China to give customized pin-hole rotary tooling.
Tooling equipment used for the piercing of the micro-perforated films are difficult to manufacture due to there is a lack of competitive manufacturers in the market.
Asia Pacific is expected to grow with the highest CAGR of 5.2% in the global Micro-Perforated film market. Developing nations such as China and India are likely to witness high growth owing to an increase in packaging applications in the food industry.
Associated side effects related to Micro-Perforated films and strict regulations on the usage of plastics pertaining to the environmental damage caused by waste plastics are anticipated to hinder the micro-perforated market growth.
Key participants include Mondi(Austria), Amcor Limited (Australia), Sealed Air Corporation (U.S), Bollore Group (France), Uflex Ltd (India), TCL Packaging (UK), Coveris Holdings S.A. (US), Amerplast (Finland), Aera (France), Now Plastics (US)
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For this report, Reports and Data have segmented the Micro-Perforated Films Market based on material type, application type, and region:
Material Type (Revenue in USD Million; Volume in Kilo Tons 2016–2026)
Polyethylene (PE)
Polypropylene (PP)
Polyethylene Terephthalate (PET)
Others
Applications Type (Revenue in USD Million; Volume in Kilo Tons 2016–2026)
Fresh Fruits and Vegetables
Bakery & Confectionary
Ready-to-eat Foods
Others
Regional Outlook (Revenue in USD Billion; 2017–2026)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
TOC -
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Customization and innovations in micro-perforated films market
3.2. Increase in adoption of micro-perforated films across the globe
3.3. Government rules & regulations on the usage of plastic
3.4. Environmental concerns
Chapter 4. Micro-Perforated Films Segmentation & Impact Analysis
4.1. Micro-Perforated Films Segmentation Analysis
4.2. Micro-Perforated Films Market Value Chain Analysis, 2016-2026
……………..
Chapter 8. Competitive Landscape
8.1. Market Revenue Share by Manufacturers
8.2. Manufacturing Cost Breakdown Analysis
8.3. Mergers & Acquisitions
8.4. Strategy Benchmarking
8.5. Vendor Landscape
Chapter 9. Company Profiles
9.1. Mondi (Austria)
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Length Benchmarking
9.1.4. Strategic Initiatives
9.2. Amcor Limited (Australia)
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Length Benchmarking
9.2.4. Strategic Initiatives
9.3. Sealed Air Corporation (U.S)
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Length Benchmarking
9.3.4. Strategic Initiatives
9.4. Bollore Group (France)
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Length Benchmarking
9.4.4. Strategic Initiatives
9.5. Uflex Ltd (India)
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Length Benchmarking
9.5.4. Strategic Initiatives
Continued……….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Micro-Perforated Films market and its competitive landscape.
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